Bangladesh Gold Prices Drop Again as BAZUS Cuts Rates

Gold prices have declined again in Bangladesh following a new pricing decision by the Bangladesh Jewellers Association (BAJUS). The revised rates took effect at 10:00 a.m. on Tuesday, July 28.

Under the new pricing, the cost of 22-karat gold has been reduced by Tk 2,216 per bhori (11.664 grams) to Tk 220,858.

The updated gold prices are:

• 22K: Tk 220,858 per bhori (down Tk 2,216)
• 21K: Tk 210,943 per bhori (down Tk 2,100)
• 18K: Tk 181,200 per bhori (down Tk 1,750)
• Traditional gold: Tk 148,016 per bhori (down Tk 1,458)

BAJUS said the price adjustment reflects a decline in the domestic price of pure (acid-test) gold. The association had previously increased gold prices on July 27.

Under Bangladesh's current national budget, a Tk 2,500 VAT is included in the price of each bhori of gold jewelry. As a result, customers will not be charged VAT separately when purchasing jewelry.

Silver prices have also been revised. The new rates per bhori are:

• 22K silver: Tk 4,607
• 21K silver: Tk 4,374
• 18K silver: Tk 3,791
• Traditional silver: Tk 2,857

The updated prices remain in effect until BAJUS announces another revision.